Almost overnight, lease accounting has morphed into one of the profession's biggest headaches, as more than 300 companies have had to restate their financials, citing, among other issues, corrections ...

For most of modern business history, accounting has been something leaders looked at periodically. Numbers were reviewed and reports arrived on a schedule (often monthly, quarterly, or at tax time).

For years, accounting teams have been burdened with the cumbersome and error-prone process of manual lease accounting. Teams often spend 4+ hours per lease reading through lengthy documents, ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. The Financial Accounting Standards Board’s (FASB’s) new ...

Last year, the Financial Accounting Standards Board (FASB) provided private companies with an extra year to adopt lease accounting standard ASC 842. When this was announced, 63.8% of surveyed private ...

Private companies are facing a deadline on implementing the new lease accounting standard, but recent updates in the rules could make an impact on their financial statements and disclosures. Other ...

New lease accounting standards coupled with the many pressures brought on by the pandemic have changed how organizations prioritize their leases. Companies are currently reevaluating their lease ...

Last year, the Financial Accounting Standards Board (FASB) announced new lease accounting rules that require all leases to be on corporate balance sheets. To date, the FASB has yet to circulate the ...

In early 2020, the COVID-19 pandemic added another element of business disruption for organizations to manage while the effective dates to comply for FASB’s new lease accounting standards were quickly ...

If you feel like the new lease accounting standard has been years in the works, you’re right. The good news is, for better or for worse, the new standard is here. Most private companies are now ...

Rochester Institute of Technology adopted the Financial Accounting Standards Board (FASB) new accounting guidance on leases FASB Accounting Standards Codification Section 842 ("ASC 842") on July 1, ...

Public companies’ required implementation of FASB’s new lease accounting standard in 2019 means that financial statement auditors need to be prepared to make new judgments. Although the private ...